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In the automobile industry, truck drivers refinance their vehicles more often than any other driver. Some of the most refinanced cars in 2018 were the Chevrolet Silverado 1500, Ford F150, Dodge Ram, and the Chevrolet Silverado 2500.

But why is that? Any car owner should plan to refinance a loan (or refi) after a year - with companies like rateGenius; any car owner can jump on a lower interest rate or a shorter length of time thanks to economic fluctuations or credit score improvements.

Out of all vehicles in the U.S., trucks are refinanced the most. Here's why that is and what that means for you, no matter what car you drive.


1. Trucks Are Built To Last, And We're Not Using Them To Capacity

Trucks were originally created for work: hauling, towing, and traveling over rough terrain, day after day, month after month, year after year. The trucks of the last few years don't see the levels of hard labor that their predecessors did. Today's trucks are designed to be more powerful than ever, but they're used most often for carpooling kids than working around the ranch.

Because of this, trucks tend to last longer than expected, even far beyond the 100k mile odometer marking.

So, what does this have to do with refinancing? When you have a vehicle that you expect to last for 10-15 years (or more), you may decide to stretch your auto loan as far as it can go. In addition, your budget may change over the span of many years, dictating that you raise or reduce your monthly payments accordingly. This gives you many years to shop for competitive refi rates.


2. They Cost More, So Loans Are Larger

From 2008 to 2018, the average price of a full-size pickup truck rose by 48%, the highest 10-year price increase of any vehicle class.

Some drivers may wind up with payments that they struggle to afford a few years down the line. By refinancing, they have the opportunity to lower those payments and ensure that they can successfully pay off their loans.


3. Trucks Have A Higher Resale Value

Full-size pickup trucks tend to hold their value well, compared to other vehicles on the market today. This allows their drivers to take advantage of excellent refi opportunities.

If you have a vehicle that depreciates quickly, you'll find that your refi options become very limited.


4. The Truck Market Is Up

Ten years ago, gas prices had soared to a painful $4.11 per gallon. By January 2019, this price had dropped to a much, much better $2.24 per gallon!

Today's trucks border on luxury. They can come loaded with heated steering wheels, full-size sunroofs, plush leather seats, and even interior mood lighting. This makes them desirable to an entirely new group of drivers… many of whom are looking for the bells and whistles of a luxury car, with the size and dependability of a pickup.

If you want to save the most money on your next car in the long run, the trick is refinancing with a company like rateGenius , who can ensure you're getting the lowest rate, no matter your vehicle.

Update: RateGenius team is offering a pre-qualification assessment to help you compare rates with no impact to your credit scores. See what your new car payment can be!

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In the automobile industry, truck drivers refinance their vehicles more often than any other driver. Some of the most refinanced cars in 2018 were the Chevrolet Silverado 1500, Ford F150, Dodge Ram, and the Chevrolet Silverado 2500.

But why is that? Any car owner should plan to refinance a loan (or refi) after a year - with companies like rateGenius; any car owner can jump on a lower interest rate or a shorter length of time thanks to economic fluctuations or credit score improvements.

Out of all vehicles in the U.S., trucks are refinanced the most. Here's why that is and what that means for you, no matter what car you drive.

1. Trucks Are Built To Last, And We're Not Using Them To Capacity

Trucks were originally created for work: hauling, towing, and traveling over rough terrain, day after day, month after month, year after year. The trucks of the last few years don't see the levels of hard labor that their predecessors did. Today's trucks are designed to be more powerful than ever, but they're used most often for carpooling kids than working around the ranch.

Because of this, trucks tend to last longer than expected, even far beyond the 100k mile odometer marking.

So, what does this have to do with refinancing? When you have a vehicle that you expect to last for 10-15 years (or more), you may decide to stretch your auto loan as far as it can go. In addition, your budget may change over the span of many years, dictating that you raise or reduce your monthly payments accordingly. This gives you many years to shop for competitive refi rates.

2. They Cost More, So Loans Are Larger

From 2008 to 2018, the average price of a full-size pickup truck rose by 48%, the highest 10-year price increase of any vehicle class.

Some drivers may wind up with payments that they struggle to afford a few years down the line. By refinancing, they have the opportunity to lower those payments and ensure that they can successfully pay off their loans.

3. Trucks Have A Higher Resale Value

Full-size pickup trucks tend to hold their value well, compared to other vehicles on the market today. This allows their drivers to take advantage of excellent refi opportunities.

If you have a vehicle that depreciates quickly, you'll find that your refi options become very limited.

4. The Truck Market Is Up

Ten years ago, gas prices had soared to a painful $4.11 per gallon. By January 2019, this price had dropped to a much, much better $2.24 per gallon!

Today's trucks border on luxury. They can come loaded with heated steering wheels, full-size sunroofs, plush leather seats, and even interior mood lighting. This makes them desirable to an entirely new group of drivers… many of whom are looking for the bells and whistles of a luxury car, with the size and dependability of a pickup.

If you want to save the most money on your next car in the long run, the trick is refinancing with a company like rateGenius , who can ensure you're getting the lowest rate, no matter your vehicle.

Update: RateGenius team is offering a pre-qualification assessment to help you compare rates with no impact to your credit scores. See what your new car payment can be!

My life has changed a lot over the last 18 months. I got married, bought a home, and now my wife and I are expecting our first baby. With all of the joy has come a lot more responsibility, and while all of the changes are exciting, we're always looking for ways to be better about saving money for our future. I've always been a good saver and had a decent credit score, but I never realized that I could be pocketing big savings on my car payments until a coworker told me about RateGenius. RateGenius is a service that negotiates with lenders to secure you lower monthly payments on your car loan.

They transferred my loan to a new lender, leading to lower monthly payments.

I went online and saw that RateGenius works by transferring ownership of your car payment from one creditor to another. The old loan gets paid off and is replaced with a new one that has monthly payments that are more affordable. In addition to having lower interest rates, they can shorten the life of their clients' loans by a lot! Their experts work with over 150 lenders nationwide to find a fit that works best for your financial situation. Sounded like a simple and effective way to put a little more money in the bank for my growing family.

Their pre-qualifying application was quick and had no impact on my credit score.

My credit score has been something I've taken seriously since I got my first credit card at 19, so I've always been wary of any application that requires a credit check, because I heard it can lower your score. So I really liked that RateGenius' initial application didn't require a credit check. The only information they needed was my name, date of birth, address, yearly income, and vehicle type. Once I was done, they showed me a rate table that outlined various options and estimates on how much I would be saving depending on which plan I picked. Seeing the rate table was helpful because it gave me a better idea of how much I could be saving, before going through the full application process.

The full application process only took minutes.

After I decided that refinancing my car loan was a good fit for me, I was immediately impressed with how simple the full application process was from start to finish. I deal with numbers and computers all day long at work, so the fact that it didn't cause me a headache was a real plus. Everything was done online and only took me a couple of minutes. I was able to shop around for the best rates, and their online calculator gave a good estimation of what my new monthly payments would look like.

They don't get paid unless they save me money

After I went through the whole process and was matched with a new creditor, I was pleasantly surprised to learn that RateGenius doesn't charge a fee unless they successfully secure you lower monthly payments. I loved this risk free payment structure, and that I wouldn't have to pay a cent unless they found me a great deal. They ended up matching me with a creditor that is saving me a huge chunk of change every month, and the one time fee was nothing in comparison to what I'm pocketing.

I'm on track to save almost $1,000 this year.

RateGenius was able to secure me a new repayment plan that saved me $78 a month. Now I'm only paying 2% interest -- that's a huge improvement from my old loan. That means I'm pocketing almost $1,000 in savings a year. That's some serious cash for a first time dad with a new mortgage!

I'm so glad I discovered RateGenius -- it's a relatively quick and worthwhile way to refinance your car loans and reduce your interest rates. Their experts did all of the hard work for me, and now my payments are much more manageable for my family. I'm putting all of the money RateGenius has saved me straight into a college fund for my son. We haven't even met him yet, but it feels good to be getting a head start on his future.

Prequalify for auto refinance with no impact on your credit score today!


My life has changed a lot over the last 18 months. I got married, bought a home, and now my wife and I are expecting our first baby. With all of the joy has come a lot more responsibility, and while all of the changes are exciting, we're always looking for ways to be better about saving money for our future. I've always been a good saver and had a decent credit score, but I never realized that I could be pocketing big savings on my car payments until a coworker told me about RateGenius. RateGenius is a service that negotiates with lenders to secure you lower monthly payments on your car loan.

They transferred my loan to a new lender, leading to lower monthly payments.

I went online and saw that RateGenius works by transferring ownership of your car payment from one creditor to another. The old loan gets paid off and is replaced with a new one that has monthly payments that are more affordable. In addition to having lower interest rates, they can shorten the life of their clients' loans by a lot! Their experts work with over 150 lenders nationwide to find a fit that works best for your financial situation. Sounded like a simple and effective way to put a little more money in the bank for my growing family.

Their pre-qualifying application was quick and had no impact on my credit score.

My credit score has been something I've taken seriously since I got my first credit card at 19, so I've always been wary of any application that requires a credit check, because I heard it can lower your score. So I really liked that RateGenius' initial application didn't require a credit check. The only information they needed was my name, date of birth, address, yearly income, and vehicle type. Once I was done, they showed me a rate table that outlined various options and estimates on how much I would be saving depending on which plan I picked. Seeing the rate table was helpful because it gave me a better idea of how much I could be saving, before going through the full application process.

The full application process only took minutes.

After I decided that refinancing my car loan was a good fit for me, I was immediately impressed with how simple the full application process was from start to finish. I deal with numbers and computers all day long at work, so the fact that it didn't cause me a headache was a real plus. Everything was done online and only took me a couple of minutes. I was able to shop around for the best rates, and their online calculator gave a good estimation of what my new monthly payments would look like.

They don't get paid unless they save me money

After I went through the whole process and was matched with a new creditor, I was pleasantly surprised to learn that RateGenius doesn't charge a fee unless they successfully secure you lower monthly payments. I loved this risk free payment structure, and that I wouldn't have to pay a cent unless they found me a great deal. They ended up matching me with a creditor that is saving me a huge chunk of change every month, and the one time fee was nothing in comparison to what I'm pocketing.

I'm on track to save almost $1,000 this year.

RateGenius was able to secure me a new repayment plan that saved me $78 a month. Now I'm only paying 2% interest -- that's a huge improvement from my old loan. That means I'm pocketing almost $1,000 in savings a year. That's some serious cash for a first time dad with a new mortgage!

I'm so glad I discovered RateGenius -- it's a relatively quick and worthwhile way to refinance your car loans and reduce your interest rates. Their experts did all of the hard work for me, and now my payments are much more manageable for my family. I'm putting all of the money RateGenius has saved me straight into a college fund for my son. We haven't even met him yet, but it feels good to be getting a head start on his future.

Prequalify for auto refinance with no impact on your credit score today!